Atmel's revenue slips in Q2

TimEaton

SAN JOSE, Calif. (CBS.MW) -- Atmel Corp. reported Wednesday that revenue tumbled in its fiscal second quarter. Company officials blamed weakness in the flash technology market, in European smart card operations and in its North American distribution operations for the slide.

Before after-hours trading was halted, the company's shares rose to $11.35. Shares closed up 1.2 percent, or 13 cents, at $10.89 in the regular session.

Atmel
ATML
said revenue will be about $367 million, down from $478.8 million, or 23 percent, in the year ago period. According to a company press release, the communications chip manufacturer's earnings per share broke even for the period ending June 30.

The consensus expectation of analysts surveyed by First Call/Thomson Financial was 6 cents a share on revenue of $457 million in the second quarter.

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